A new data released by the Mount Vema Department of Statistics and Risk Assessment says that consumer spending in Mount Vema will exceed 500 million golles, more than $1 billion US dollars a year.
The new figures come after the government started to include visitors due to an increasing number of people making travel plans to Mount Vema. Previously the Statistics Department released its estimates based on the number of accommodations allocated for each district that will total 250,000+ residents which was the amount of homes needed to keep the economy going.
This is the first time the figures are published, with the estimated number of annual visitors expected to attend annual events and tourism which as an industry, was never included in the estimates before.
For the economy to function as it is designed, Mount Vema will need more than 250,000 temporary workers within the next 10 years, with each district providing accommodation to just over 25,000 people to meet that target.
When the government published estimates, which are changed every quarter in line with economic developments, the market always anticipated that tourism estimates were coming. The new estimates today just confirmed what brokers and economists at Gollexi – The Mount Vema Stock Exchange have been commenting for years.
As developments entered a new stage, the Mount Vema Center for Statistics and Risk Assessment decided that it has enough data to include tourism. So, businesses serving 250,000+ customers including more than 1.5million estimated visitors per month, each spending just about 500 golles, they are likely to generate just over 50 million+ golles (more than $100 million+ US dollars) every month.
After fees and expenses there will be still about 40 million golles a month to be shared between traders serving the residents. The data explains why there is so much interest in business licenses and the increasing number of foreign companies and foreign governments investing in Mount Vema companies and government bonds either at the Gollexi or privately through lucrative deals with the Vema Seamount Authority. The key is to be always one step ahead of the market and identify the opportunities before the market catches up.
Companies registered with the Vema Seamount Territory (Mount Vema Registered Companies) must have a City of Mount Vema off-plan address, according to a new policy. The registered address is required for Mount Vema incorporated organizations to continuously display their City of Mount Vema off-plan address on their emails, brochures and websites.
The off-plan address of any legal entity of the Vema Seamount Territory, forming part of the public record, should be accepted as the required address where the registered organization or legal entity is incorporated.
The policy which was first introduced to increase the value of the City of Mount Vema off-plan properties seems to be working as more companies are reserving the limited number of available real estate plans before it is sold out. For example, this weekend alone a third of all development units for the financial district (Maryland MD08 Zone) where the head offices of the RBMV Bank, and GolleCard will be, have been reserved.
Also, a third of the development units for the technology district (San Miguel SM07 Zone) where the head office of MVScloud will be, have been reserved this weekend. Bavarolle, the real estate company of Mount Vema doesn’t list all properties for sale, but it told VSBCnews that demand is so high, it is increasing daily especially when the required deposit to secure a development unit is only 1000 golles (about $2000 US dollars). A deposit in some areas like Pashant (PT01 Zone) where the office of MONTfisheries will be, reservation prices are already at 3,000 golles per development unit from 1,000 golles last month.
Because a registered office address does not have to be where the organization conducts its actual business or trade, the Mount Vema off-plan address in now accepted to be used on headed papers and other documents for legal and filling purposes, to indicate that it is a legal entity registered with the Vema Seamount Territory.
Law firms such as VANDER Legal, and accountants are due to start providing registered off-plan office address services to any business seeking a Mount Vema off-plan address. A company providing such service must either own or rent a Mount Vema property off-plan, and such off-plan property must be licensed to conduct such business activity.
As of today, documents and official e-mail correspondences for an incorporated organization (e.g. formal notices, service of process, tax and government communications) must show the registered off-plan office address as recorded on the register. Such address may also be used by company directors instead of their private home address for contact on the register. The company director’s personal records will be kept with the register and will not be available to the public except for legal inspection.
If a Mount Vema company is involved in any legal proceedings, the case will be presided over by a Court of the governing jurisdiction (in this case by the laws of Mount Vema). Directors can change their registered office but cannot move it to another country after company formation. So, it would be a good idea to set up a business address in Mount Vema just to expand the geographical reach or the trading activities of your business if you don’t wish to register with the Vema Seamount Territory.
Handy Deed, the leading building company of Mount Vema is officially bidding to build the aquaculture installations project in Mount Vema, after expressing interest in the project announced by MONTfisheries in August this year when the fisheries company instructed W-Contractors to search for companies to design and build its aquaculture installations project with minimal or no damage to the Vema Seamount marine environment.
The deal made in August, just hours after W-Contractors launched an international campaign to hire sales representatives to invite businesses and organisations to bid for City of Mount Vema projects, both for corporate and government contracts, was part of a plan to expand recruitment that started in New York City – United States, to find potential contractors and sub-contractors with the aim to attract businesses willing to bid for contracts. The sales representatives would strive to secure repeat deals wherever possible and maintain good relationships with those contractors or sub-contractors who would become existing bidders.
With so few companies applying to build the installations, today after a number of consultations and an international recruitment campaign that led to the hiring of Project Architects and Engineers, Handy Deed, the leading building company of Mount Vema said it is ready to bid for the MONTfisheries contract, in line with government policy, which states that competition must be open to everyone and contracts must be awarded to the best proposals.
MONTfisheries aquaculture project will not only be beneficial to the economy, but it will also provide for crucial ecological functions and could potentially increase abundance and maintain biodiversity. The shelter will raise stocks of prey fish and small crustaceans by increasing recruitment opportunities in turn providing more prey for higher trophic levels
The latest internet traffic report published by the Mount Vema government today, indicates that for the fourth consecutive month, the United States continues to be the leading nation when it comes to interest in the City of Mount Vema developments.
The report which is compiled on monthly bases, and published from time to time, shows that the popularity of the City of Mount Vema Project among people and the business community is much stronger in the United States of America than any other country, in comparison to the last time the data was published.
The report has helped companies such as W-Contractors to capitalise on this visionary and pioneering confidence of Americans to recruit key personnel for Mount Vema corporations. More US citizens than any other nation is scheduled to arrive in Mount Vema to work as divers, engineers, chefs, project managers and including investment bankers who have joined, bringing with them unique skills that are helping the flow of capital into the project in ways never seen before.
Analysts say that the report indicates that interest from the USA is expected to remain steady as the City of Mount Vema project gains momentum, not from across the globe as it was four years ago, but mainly from North America, based on the number of returning visitors to Mount Vema’s official websites, job applicants and the number of Americans who have successfully applied for Mount Vema Work Visa and holders of Mount Vema Government Bonds.
MONTfisheries, the fishing company of Mount Vema confirmed plans to build two modern fishing vessels to help the Vema Seamount Territory meet its 2025 fisheries exporting targets first announced by His Mount Vema Majesty’s Government in August.
MONTfisheries which is currently the only company licensed to fish within The Vema Seamount Territorial Waters said the two shipbuilding projects will be put to tender on January the 10th, 2019 to comply with a government policy introduced to promote competition.
The competition policy states that any project costing more than 50,000 golles must be open to everyone and contracts must be awarded to the best proposals. The policy was also introduced as part of The Vema Seamount Authority plan to build a society where you don’t make it because of who you know or where you come from, but because of your ability to get the job done.
The plans confirmed by MONTfisheries today is most likely to be welcomed by foreign shipyards who will be expected to bid for contracts. In a statement issued this morning, His Mount Vema Majesty’s government who first announced the plans in August to join the list of top fish exporting countries as part of a long-term strategy to help combat hunger with fish and fishery products, welcomed the announcement.
The Vema Seamount Territory plans to reach and maintain annual targets of 200,000+ tons by 2025, approximately 400 million golles of fish stocks from both capture and aquaculture, first got the support of MONTfisheries in August when the company signalled that it was onboard after instructing W-Contractors to search for companies to design and build its aquaculture installations in Mount Vema.
Interest from foreign companies to join the Gollexi (Mount Vema Stock Exchange) is increasing, thanks to a multitude of trade and investment opportunities for exporters to the Mount Vema market. The successful auction of Mount Vema Government Bills (MVG-Bills) yesterday shows that the stock market is helping attract major investors to the Kingdom of Mount Vema.
The number of positive replies from foreign companies invited to join the Mount Vema market indicates that the large volume of interest registered in the City of Mount Vema project suggests a rush by foreign investors to secure a stake in this new South Atlantic economy.
Some of the major sectors expected to experience rapid growth are processed food and beverages going to the construction installations in Vema Seamount this year. Transport, IT and telecommunications, energy, marine products, environment protection services, building construction products and services are also expected to be very profitable.
Another of the major growth industries expected to be highly profitable in Mount Vema is the exporting of education. The foreign education sector in Mount Vema is split in two -students studying abroad and foreign education service providers set to establish a presence in the country's building sites.
The type of students interested in Mount Vema includes those who need English language study not just to be able to work in the country but to advance their careers in the island and those who wish to study university degrees right through to post-graduate/MBA studies etc.
As the cost of overseas study remains high, pursuing qualifications through Mount Vema accredited institutions abroad has become more practical and more popular. Course delivery can take two forms. One is the foreign school catering exclusively to migrant workers, which can be wholly foreign owned and the other is the investor who wishes to be an education entity.
There is a growing market for imported foods, especially in respect to hotels, bars and western style restaurants for the first floating hotels and cruise ships. Mount Vema expected consumers will soon lay great stress on brand and brand loyalty. This means that companies with a strong international brand and aggressive marketing strategies could hold large market.
W-Southern, the transportation company of Mount Vema, announced plans to raise more capital at the Gollexi, to invest in more yachts to increase the number of luxury yachts available for charter in Mount Vema as demand increases from owners of Mount Vema properties off-plans planning to travel to the territory to visit and experience the underwater world where their floating homes will be.
The company realised that the practice of renting or chartering, a sailboat or motor yacht to stay in Mount Vema, for privacy, relaxation or fishing within the Vema Seamount Territorial waters for individuals, families or as a corporate event is about to become big business.
W-Southern plans to have two main kinds of charter available. One will be bare-boat and crewed charters which involves a person renting a boat or cabin and skippering it if renting the whole yacht, and the other way is gathering up a group and renting the yacht with them.
People associated with the plans, have told VSBCnews that they are already in talks with RMVFA – The Royal Mount Vema Foundation Academy to offer courses to teach basic seamanship and prepare people for bare-boat chartering.
The academy will not offer the courses directly but will use its licence to sub-contract the services to foreign companies, as it already has a database of foreign private education businesses who regularly express their interest in providing private education and training to Mount Vema if required.
With W-Southern plans, people will have the option to book crewed charter, which means the yacht will come with a crew. This can be anything from a 35-foot boat with a husband-and-wife team serving as captain and chef to a 300-foot boat with a squad of 30 or more crew members including stewardesses, engineers, mates, deckhands, scuba dive masters, and more.
Two sub categories of yacht chartering will also be available. One will be un-inspected passenger yachts, also known as 6-packs which carries only six or fewer passengers. All captains will start out by getting their "six-pack" licence which must be issued by the Royal Mount Vema Coast Guard.
6-pack yachts according to W-Southern, will be ideal for smaller groups of six or less, and these yachts have a variety of types and sizes. For example, six packs can be sailing yachts, fishing boats, or power yachts and anything in between. While this type of charter will be the least expensive of the two, people will still need a licensed captain, or skipper with them at all times.
On six-pack charters people will be able to choose their menu and the type of cruise they wish to take be it to liveaboard in Mount Vema, diving expeditions, deep sea fishing and visit different sites during and after the City of Mount Vema construction, or an ocean adventure voyages to the South Atlantic Islands, South America, Southern Africa and beyond.
The other option will be the inspected passenger vessels. Inspected charters are designed to carry groups large than six passengers. These charter vessels can range from large sailing yachts to dinner cruise ships. These charters will be designed to carry up to several hundred passengers. Inspected vessels will offer many different features that an un-inspected passenger yacht cannot. Features like catering, live music, or a DJ will be available on these larger ships.
Prices will vary the cost of a chartering will be determined by several factors including the size of the yacht, its age, its pedigree, the number of crew, and the destination. W-Southern range of charter prices per person per week will start from the equivalent of 500 golles up to and in excess of 10,000 golles. Mega Yacht or Super Yacht that are over 150-foot to 300-foot could cost anything from the equivalent of 25,000 golles up to 350,000 golles per week.
Experts with links to the City of Mount Vema developments projected that Mount Vema lifestyle and the increasing demand for deep sea fishing and spearfishing adventures will lead boom of yacht berths in the region, W-Southern said. Demand for deep berths in the South Atlantic especially from commercial vessels crossing the South Atlantic and the Indian Ocean to the Americas and vice-verse was initially the only expected visitors to make Mount Vema prime location to harbor in times of rough seas.
However, according to W-Southern which is currently the only transport company licensed to transport passenger to and from the Vema Seamount territorial waters, demand for docking facilities will not only come from commercial vessels but also from yachts as boom in demand for deep sea fishing and spearfishing, means that top-quality large super-yachts, and deep berths will be at a premium in the Vema Seamount Territorial Waters.
With the new marina developments that will take shape in Mount Vema where super-yacht owners and lovers of sailing adventures will be able to dock and set sail to explore the South Atlantic, South America, Southern Africa or the Indian Ocean as far as Seychelles and beyond and return.
Half of the world’s yacht fleet at any given time are based in the western Mediterranean, but Mount Vema is aiming to create similar facilities in the South Atlantic to host super-yachts by building and making available moorings and facilities to make the Vema Seamount Territory a regional destination of choice for owners of luxury yachts and sailing adventures.
Berths in Mount Vema are already seen by some as a big investment opportunity as it will be one of the few ports in the region that will be catering exclusively for yachts longer than 80 metres. The Mount Vema government is now working to attract companies, who focus exclusively on the acquisition and development of new marinas and related properties.
It’s easy to see why marina berths are big business from the big development in Asia to marina developments in the Caribbean. It is not that long since the 15-year lease on a berth for a 70-meters yacht sold for just over 2.5 million golles (about $5 million US dollars), as the whole world is waking up to the many attractions and advantages that accompany the sport of sailing.
A growing number of companies are listing on the Mount Vema Stock Exchange, according to a new data released by the Gollexi. But why are they listing and why on the Gollexi? According to economists at the Royal Mount Vema Foundation Academy, companies are not just listing because it creates a market for their stocks, or because it increases a company's ability to make acquisitions, but most importantly, they’re listing because it provides access to capital.
The Mount Vema Stock Market is less than a decade old and already has a total market capitalisation in excess of 2 billion golles and is expected to exceed 100 billion golles by 2020. The market aims to be the largest stock exchange in Southern Africa, including the South Atlantic and the region's most internationally focused as the regional financial center with all the major banks already signing up to have representative offices in Mount Vema.
Any company considering an IPO on the Gollexi market, the Mount Vema Stock Exchange, must first identify what steps should be taken towards achieving that aim, as the Gollexi is already becoming well-known for its high standards of regulation.
Careful consideration should be given to the following issues in preparing for a listing: Deciding on the method of listing, e.g. an introduction to the market, raising new money, a public offer or a placing to institutional investors.
Any Company and its lawyers will need to consider how best to approach the listing in terms of the Company’s corporate structure and financial reporting history, given that the Company is not registered with the Kingdom of Mount Vema.
Key issues will include whether the Company itself should be listed or should a Mount Vema holding company be created for the purposes of the listing. Have the Company’s accounts prepared in accordance with International Financial Reporting Standards (IFRS).
Due Diligence - as regards to legal and financial due diligence for the IPO, this will understandably be a time consuming process. Early preparation particularly as regards collating and centralising material contracts is important.
Tax - If the Company needs to be reorganised as part of the review of the corporate structure then any tax impact will need to be considered well ahead of time to ensure that any necessary tax clearances from the relevant fiscal authority can be obtained.
How much does a listing cost?
The total average fees for a main market listing depend on the size, sector and structure of the Company coming to the market as this affects the nature and level of due diligence required. The base level for admission costs would normally be in the region of 250,000 – 500,000 thousand golles.
On top of these fees, the Company will need to pay the broker’s fees for raising the funds (unless listing by way of an introduction) which may be in the region of 4-6% of funds raised. The Gollexi calculates on the number of stocks of a listed security but they are capped at 500,000. The annual fees are approximately 50,000 golles.
It is difficult to be precise on the length of time for a listing since the process is influenced by so many variables being the size, sector and structure of the Company, the method of flotation being used and the degree and complexity of due diligence which has to be conducted. Most flotations take approximately 4 to 8 months from the time that the decision is made to admission.
The process is complex and time-consuming and identifying a small team within the Company to commit their time and energies to driving the listing may be worth considering as it may be less disruptive than having all the directors continually interrupted during the course of their normal work. However, either approach will still require all the directors at some stage or another to provide documentation and information and review the listing documentation.
Companies need to appoint the following: Investment bank to manage the IPO process and co-ordinate the listing with the other advisors. Often, it will also act as financial adviser, sponsor and underwriter. Normally, the lead bank acts as global co-ordinator and a number of banks will also be appointed as bookrunners.
Lawyers are required to advise the Company itself, as well as any stockholder who is selling all or part of its stake as part of the IPO. The sponsor and underwriter will also require lawyers. The Company’s lawyers will be responsible for drafting the ‘back end’ of the prospectus which contains all legal information relating to the company including stocks capital, material contracts and litigation. They will also manage the ‘verification’ process, which seeks to ensure that the prospectus is not misleading in any way, thus protecting the directors of the Company against any claims by investors.
Reporting accountants, these must be separate from the Company’s auditors, although they may be made up of a different team from the same firm. Essentially, the reporting accountant is responsible for reviewing the Company’s financial record and internal systems for potential investors. They will prepare the long form report, the short form report (which is published in the prospectus) and the working capital report.
PR Consultants, the PR consultants will help to generate positive publicity and interest in the IPO by targeting either investors among the general public or institutions or both.
The Company, among many other things will need to appoint registrars, a receiving bank and any other advisors that may be required in relation to its specific business. More information is available at the Gollexi or by contacting the relevant government department through the contact page at the www.mount-vema.com
The Bank of Mount Vema announced today, that only two more commercial banking licenses will be granted now, until the bank makes the next assessment to see if more commercial banks will be needed to meet demand.
Any one wishing to operate a merchant bank under the laws of the Vema Seamount territory, must submit application for a license now, to operate a banking business within the Vema Seamount territory including online.
This will bring the number of licensed commercial banks to 4, from the 2 existing licenses as the government plans to issue no more commercial banking license for at least 30 years, to be reviewed every 10 years.
Under the laws of the Vema Seamount Territory a business is not permitted to carry word bank in its name, unless it holds a corresponding license. The licenses can be for FULL BANKING LICENSE for general banking activities, such as taking deposits from the general public. INTERNATIONAL BANKING LICENSE (offshore banking license), which prohibits any local business activities. Or NON-BANKING FINANCIAL INSTITUTION an institution that provides financial services but has to comply with less regulations than a full banking license.
Mount Vema commercial banking licenses will be issued by the Bank of Mount Vema to applicant corporations that meet the banking requirements of the Vema Seamount Territory. The requirements include minimum capital requirements, and minimum number of directors.
Mount Vema, is no tax haven, as you will not find lax or corrupt standards in bank licensing, neither the granting of license, for example, to shell companies, or to companies with nominee directors, or with dummy shareholders, etc. The granting of the license may involve a long, complex and expensive procedure, so the Bank of Mount Vema says that it is preferable that candidates apply as early as possible.
Licensing or Approval for the Conduct of Mount Vema Banking Business
Bank of Mount Vema admission criteria apply across the board to all financial institutions engaged in banking activities. In assessing an application for banking licence or to operate as a commercial bank, the Bank of Mount Vema takes into consideration, the following factors:
A representative office will not be allowed to transact any banking, securities or any other business in Mount Vema. A representative office may carry out liaison work, market research or feasibility studies.
Prospective applicants are encouraged to contact Banking Department of the Bank of Mount Vema (mount-vema.com / contact us) at an early stage to discuss their plans prior to submitting a formal application. Preliminary consultation with a prospective applicant enables The Bank of Mount Vema to discuss the licensing requirements with the applicant and to identify issues that may have a significant bearing on the proposed application. All applications will be promptly processed by The Bank of Mount Vema. The processing time depends on the circumstances of each application and the completeness of information submitted by the applicant to the Bank of Mount Vema.
The Vema Seamount Authority announced today plans to reconnect with U.S. retail giant Walmart after six years, when the first contact was made. Another clear indication that the Kingdom of Mount Vema is back in business.
The initial contact with Walmart was first made in July 2012, when the government’s ambitious investment drive programme, was officially launched, and Walmart Inc. the American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores responded warmly to the invitation to invest in the Kingdom of Mount Vema.
In a letter, back in 2012 Walmart responded positively to the Royal Mount Vema Embassy’s ‘preliminary’ request for Asda Group Plc to indicate if they would be interested in taking up the offer to enter the Kingdom of Mount Vema’s expanding economy.
The letter was signed by Leigh Hopkins, then the retail giant’s Vice President: ‘As you may know,’ he said, ‘we are always looking for new markets where we can improve the quality of life of people through our everyday low prices.’
‘We will keep your comments in mind in case opportunities arise in that area at the appropriate time.’ Hopkins, who is also responsible for the International Business Unit of Walmart, was responding to the then Royal Mount Vema Embassy’s Honorary Consul’ s proposal to Asda Group Plc for the supermarket chain to invest in Mount Vema.
Now the appropriate time has come. Mount Vema is ready for Walmart and contact will be made this month as The Vema Seamount Authority continues his tireless efforts to find reliable partners and suppliers for the City of Mount Vema Project.
The Mount Vema Monarchy is keen to have Asda Group Plc on board because the company has the ability to create a reliable distribution infrastructure with the backing of its parent company Wal-Mart Plc, which would create an inflow of jobs to the already vast empire that is Asda and it would allow Asda Group Plc to create a larger international presence alongside any financial rewards it may gain.
The proposal, presented to Asda about six years ago, was part of His Mount Vema Majesty’s government’s deliberate investment drive to lure major international companies to tap into the kingdom’s developmental projects.
Other companies targeted back in 2012 that will be re-approached by the government includes retail giants Tesco, Alliance Boots, mobile phone operator Vodafone, and financial service providers HSBC Holdings, Barclays, JP Morgan Chase and Goldman Sachs banks.
Gollexi, The Mount Vema Stock Exchange was up today after WIBMOR, the logistics company of Mount Vema decided to diversify its portfolio for the first time after making more than a million golles in the Mount Vema stock market when it sold 100,000 stocks at the Gollexi for 11.01 each to institutional investors.
Now, with enough cash to spend, WIBMOR has decided to diversify starting with an initial investment of about 200,000 golles in MVG-Bond (10 years government bonds) and RBMV Bank stocks.
WIBMOR’s move is likely to be followed by many traders tomorrow when the market reopens at 9am after rumours that foreign companies seeking to join the Mount Vema market have signalled intention to start opening bank accounts with the RBMV Bank to facilitate their application for government contracts.
A Gollexi trader who wished to remain anonymous told VSBCnews that “This are exciting times. Something big is about to happen. The time to invest in now.” He said, and he may be right, Mount Vema has many listed companies with cash to spend after making millions in the stock market, all looking to diversify their investment portfolios.
We tried to contact WIBMOR but couldn’t reach anyone for comment. If you are following the developments, you can just feel it in the air, everyone seems to be ready. The price of stocks, notes, bills and bonds are likely to go up. Something is up, maybe it is time to buy. The 10 Year Government Bond is up 11% and RBMV Bank stocks closed at 0.20%.
Wibmor plans to create up to 6000 jobs as part of a plan to invest 35 million golles, in a supper warehouse in South Africa, could be moved to the United Kingdom, according to new plans unveiled today.
The news comes after people with ties to the Vema Seamount Authority told VSBCnews that Mount Vema has development deadlines to meet and attempts made to work with the Government of South Africa are not materializing as fast as expected to meet deadline, so Mount Vema companies are considering moving most of their operations to the UK after March 2019.
Set up logistic operations in the UK rather than South Africa will cost more in terms of transportation and labor, but the company is committed and willing to sacrifice a share of its estimated revenues to meet deadlines and deliver on schedule.
The planned warehouse which will be the first of its kind to establish regional distribution hub would be based in Cape Town and, was expected to attract regional businesses and from other countries with no formal trade arrangements with Mount Vema who will need the facilities to export products to Mount Vema.
The warehouse will create an additional 12,000 jobs where the distribution center will be located and, will reduce local unemployment as it will play a pivotal role in attracting new industries and jobs to the City of Mount Vema during and after construction.
Wibmor says, the Super Warehouse will be strategic to manage Mount Vema imports from other countries and will form part of the company’s long-term plans to also manage exports of fisheries and other products from Mount Vema.
Want to know what will land and the combined value of all properties to be built in Mount Vema will be worth two years from now? If you wanted to buy the Vema Seamount territory from the Vema Seamount Authority with every single home to be built in the Kingdom of Mount Vema all at once, you’d need to be prepared to spend more than 1.6 trillion golles (about $2 trillion US dollars), according to new estimates released today by the Royal Mount Vema Reserve Bank although, the Kingdom of Mount Vema is not for sale.
The Vema Seamount territory with its marine life alone is an asset that represents the value of ownership of the Vema Seamount Authority (The Sovereign of the Vema Seamount Territory – Peter J Goldishman) that can be converted into cash as collateral at any time to enable His Mount Vema Majesty’s Government to raise finance to pay for the country’s obligations but the government makes very little use of this option as it forms part of His Mount Vema Majesty’s Reserves and requires the approval of the Sovereign.
Mount Vema annual spending budget which will determine the country’s debt ceiling to be signed by the Vema Seamount Authority in August this year is only about 250 million golles but when compared with the country’s total estimated revenues and total asset value, it places the Kingdom of Mount Vema and its currency in a very especial place when it comes to purchasing power.
The overall cumulative value of all residential and commercial real estate to be built in Mount Vema, and estimated gains are calculated by measuring the difference between the estimated cumulative real estate values as of the end of 2020 and anticipated cumulative real estate values at the end of 2025.
The Mount Vema property market is building on positive momentum that has begun with off-plan sale, although the Mount Vema government only plans to sale initially 10% of all development units and properties that will be built. The rest will be reserved to let, to be used to raise funds to meet liquidity needs. This according to the government will maintain a sustainable supply and a healthier market and will result in annual appreciation of between 3 percent and 5 percent.
Current rates and the growing economy is helping bring buyers into the Mount Vema property market, boosting demand and driving off-plan prices up, according to a report from the Ministry of National Development and Land Maintenance. Mount Vema real estate although off-plan, is already highly valuable. The 1.6 trillion golles total value of the Kingdom of Mount Vema entire projected property stock and the Vema Seamount territory itself is more than the combined gross domestic products (GDP) of some well-developed countries.
As Mount Vema continues its mission to find reliable suppliers for the City of Mount Vema, Citrus fruit is next. The government is looking to South Africa, Brazil, China, the United States, Mexico, India, and Spain, the world's largest citrus-producing countries to find deals.
Orange and grapefruit juices are expected to be very popular breakfast beverages in Mount Vema, including lemonade which will be processed to produce beverages (juices) for domestic consumption and exports.
Citrus fruits have well-documented nutritional and health benefits. They can help prevent and cure some diseases and has been associated with a 10% reduction in odds of developing breast cancer.
Oranges were historically used for their high content of vitamin C, which prevents scurvy, which is caused by vitamin C deficiency, and can be prevented by having 10 milligrams of vitamin C a day. An early sign of scurvy is fatigue. If ignored, later symptoms are bleeding and bruising easily.
Citrus fruit intake is associated with a reduced risk of stomach cancer. Also, citrus fruit juices, such as orange, lime and lemon, may be useful for lowering the risk of specific types of kidney stones.
Grapefruit is another fruit juice that can be used to lower blood pressure because it interferes with the metabolism of calcium channel blockers, and Lemons have the highest concentration of citrate of any citrus fruit, a daily consumption of lemonade has been shown to decrease the rate of kidney stone formation.
As the economy of Mount Vema grows, the early struggles to get the final details of the foundation of the City of Mount Vema plans on track is becoming a thing of the past.
Officials confirmed today that construction of the foundations of the City of Mount Vema will start this year, and the structures should be visible as early as next year, after a series of delays.
The confirmation of the start date for building the city foundations comes at a time when the economy of Mount Vema is showing sign of steady growth, allowing the government to increase capital expenditure backed by currency swap deals and significant investments.
The early outcry over soaring costs which led to the scrapping of some design works and projects, which was the first in a series of embarrassments, is now old news. Mount Vema is becoming known for efficiency and timeliness, a reputation that is helping to win deals and investors who can see the opportunities off-plan.
His Mount Vema Majesty’s Government announced today that it will resume contract signed with identity verification service provider GBG, the British company that provides identity verification services to some leading companies such as HSBC, Santander, Barclaycard, Harrods, TransferWise, O2, amazon.com, Nike and among many others.
The contract was signed between GBG and the Kingdom of Mount Vema to verify the identity of people when traveling to Mount Vema or applying for services, to ensure that any information provided by anyone is associated with the identity of a real person.
The service will verify the authenticity of physical identity documents such as a passport or travel document, and will identify information against authoritative sources such as a credit bureau or government data, called non-documentary verification.
Businesses and entities that form part of the Kingdom of Mount Vema will also be able to use the service to ensure that users or customers provide information that is associated with their real identity, required to establish bank accounts, other financial accounts, and stop illegal activities like scams, money laundering, and including other security threats.
The service will also be used both online and in person to verify identity especially when boarding a vessel to Mount Vema, as travelers are encouraged to confirm for the Online Check-in process before leaving home to the island. People who wait to check in at the terminal risk being unable to sail even if they arrive at the terminal before the vessel leaves.
Mount Vema government security regulations require passenger vessels to submit certain guest information to law enforcement authorities at least 60 minutes prior to departure. To meet this requirement, it is necessary that the vessel has the information in its records and verified at least 90 minutes before departure. If a passenger does not have his or her information by this deadline, he or she will be unable to sail.
The service will make it easier for the Kingdom of Mount Vema to verify the identity of almost anyone at any-time, anywhere in the world and tackle the growing problems of identity fraud and money laundering. Service providers will be able to check their customers are who they say they are with reference using a data for more than 5 billion people around the world.
With more than thirty projects out to tender, the Vema Seamount Territory is officially inviting foreign companies to bid for government contracts, just days after the Bank of Mount Vema announced it to be open for currency swap deals.
Economists believe that the Vema Seamount Authority – Peter Goldishman is exhibiting the wisdom and political will necessary to advance trade as a vehicle for economic growth and development in Mount Vema and must therefore be commended.
Traders at Gollexi also believe that currency swap agreements would help in providing adequate local currency liquidity to City of Mount Vema project contractors and subcontractors from overseas, thereby reducing difficulties of searching for third currencies.
This initiative by the Vema Seamount Authority, which is long overdue, would make it easy to cope with the country’s expected high volume of imports, especially during construction, and after as just about 98 per cent of the nation’s import of consumables will come from overseas, and these will be items that will flow into the market space in large volumes and turnover.
It is also important to note that a large percentage of traders will regularly leave the shores of Mount Vema on daily basis heading towards foreign markets in search for needed goods and services.
It, therefore, makes a lot of sense to tie the nuts with foreign currencies, not only to facilitate seamless transactions, but also to prevent any multiple jeopardy faced by traders and importers in other countries who need to exchange the local currency to another currency and from that currency back to the intended currency, thereby losing currency value at two poles.
So, the more currency swap deals the Vema Seamount Authority secures, more foreign exchange will be free to flow among different financial institutions in Mount Vema, and to that end, businesses operating in Mount Vema could transfer funds overseas, especially to their home countries in the local currency without the hassles of passing through bureau de change or creating unnecessary stress for the Bank of Mount Vema.
Furthermore, central bank currency swaps will make it easier for foreign companies to bid for Mount Vema Government contracts to buy materials or services from third parties to meet City of Mount Vema contractual obligations, to obtain enough foreign exchange from banks in their home countries or other overseas banks to pay for their exports to Mount Vema.
In summary, it will encourage contractors and sub-contractors exporting to Mount Vema to open Letters of Credit (L/Cs) in local currency for the exportation of materials, equipment, and machinery from their home country to Mount Vema.
It will facilitate greater foreign exchange transactions and promote bilateral trade relations between other countries and Mount Vema, which could become an instrument of bilateral relationship that could encourage and open the doors to extensive trade between nations.
VANDER Legal, the leading law firm of the Kingdom of Mount Vema has confirmed that it plans to float in Gollexi next month, which will make it the first law firm of Mount Vema to go public, as part of a plan to reduce the need to rely on external funders.
The funding will support the growth of the firm, building on its position as the top dispute resolution firms of Mount Vema. Dispute resolution, according VANDER Legal is expected to be a growing market in the territory because of the number of contractors and sub-contractors joining the City of Mount Vema Project.
The law firm whose clients include the top firms of the territory including WIBMOR, W-Contractors, RBMV Bank, and Government Agencies, is expected to formally unveil plans for a ₲100m stock market float this year.
Handy Deed have today come forward with a new proposal to build a fleet of superyachts for W-Southern. The deal would include five new superyachts for the next five years.
The proposal comes after the early design was approved back in November 2017. The design has been teased in a secretive sketch with a few details surrounding the exciting new endeavour. With a modern exterior line, the five-deck superyacht boasts generous open spaces which have been engineered to create the ultimate on-board lifestyle.
The yacht design allows extremely spacious for owners and guests, like the main salon, sky lounge, beach club or the wellness area including 8- meter glass walls pool. Furthermore, the yacht will offer a tender garage for two tenders, rescue boat, and a variety of water toys.
The completion of this new 120-meter superyacht project is scheduled for spring 2021, with more details on the construction, coming soon later this year.
The Vema Seamount Authority has approved a request that authorizes W-Contractors to spend just over 500,000 golles in foreign exchange to pay for an Exploration vessel to be permanently stationed in Mount Vema before the rest of the construction fleet arrives.
More than five ships are expected to arrive later in the year and early next year including cruise ships to be used as floating hotels and floating hospital, supply vessels, work barges and other specialist vessels.
This late announcement is part of the government plan to accelerate funding to purchase ships for the territory, by applying to a new method of purchasing ships for Mount Vema Corporations. Thus, accelerating the availability of capital, so companies can finalize deals to purchase ships before the end of the year.
More funds will be available soon, after a consortium of Mount Vema companies and W-Contractors submit a bid tomorrow to secure enough capital to purchase a fleet of ships. The government aims to negotiate the required contracts in just two weeks, which is much faster than what usually takes months due to the complexity of the contracts. Expenditures for the next five years are expected to near 1 billion golles (about $2 billion USD) in total, significantly more than the original estimate last year.
vonMELYN, the Mount Vema registered company responsible for electricity supply, water, sewage, waste management and recycle, reached out to Siemens, the German company to help build the City of Mount Vema desalination plant.
Saltwater will be desalinated in Mount Vema not only to produce water suitable for human consumption and irrigation, but also to produce salt, the by-product of desalination.
The use of desalinated water for consumption is not new. Desalination is used on many seagoing ships, including cruise ships and submarines. Along with recycled wastewater, desalinated water is one of the few rainfall-independent water sources.
Desalinated water is usually healthier than water from rivers and ground water, and there is less salt and limescale in it. According to the International Desalination Association, in June 2015, 18,426 desalination plants operated worldwide, producing 86.8 million cubic meters per day, providing water for 300 million people.
Seawater desalination according to Siemens, is an energy-intensive and therefore costly process. That’s why energy efficiency plays an extremely important role in ensuring economical plant operation. The company states on its website, that with perfectly matched components such as enclosures, bearings, active parts, ventilation, and cooling system, Siemens can supply the right motor for every need.
The desalination plant, according to people at vonMELYN, may be affordable long term, as it is often unmanned and are managed remotely from a central control room. The main challenge therefore according to Siemens lies in the maintenance and modernization of PC-based control systems.
W-Contractors has approached Cash Processing Solutions (CPS), a strategic partner of De La Rue, to provide an integrated range of hardware and software solution to the Bank of Mount Vema, including consultancy and support services to enable Mount Vema to maintain high-speed cash sorting and authentication systems.
The move was made today after the procurement company expressed its intention to work with De La Rue, the British banknote manufacturing company, that also specialises in security printing of passports, brand authentication and paper-making company with headquarters in the UK.
The services provided by Cash Processing Solutions and De La Rue will help facilitate internal cash-based trade, especially during construction and after to support the internal transactions of goods and services in cash.
Their services would be required as early as August 2018 and latest December 2018, as source from W-Contractors told VSBCnews. These latest contracts are creating new opportunities for many businesses to expand to the Mount Vema market. According to traders at the Gollexi who expect positive changes in the stock market.
RBMV Bank customers can now withdraw money via their mobile phone using their PIN. The new system will allow customers to withdraw up to 300 golles in foreign exchange without putting their card into a machine.
Customers are now able to use their smart phone and input their pin on the ATM app which sends the money to the nearest agent or use code at the nearest ATM part of the RBMV Bank global network.
The RBMV Bank has also unveiled a prototype for a new type of ATM for its agents that does away with a lot of the features you would normally expect to see. It works more like a smartphone or tablet, with a touchscreen display.
The minimalist ATM reminds some of a smartphone, and eliminates the traditional magnetic stripe card reader, receipt printer and pin pad. The concept, according to the bank, meets the needs of its global customers.
The idea is that agents can hold cash in Mount Vema currency or foreign exchange, which is then dispensed as usual to conventional customers who use the mobile ATM. It cuts out the need for security vans to constantly fill cash-hungry machines, while helping the RBMV Bank save money by maintaining fewer or no bank branches.
RBMV Bank, the Royal Bank of Mount Vema has launched a 0% balance transfer card with an introductory interest-free credit card rate that lasts 24 months. Making its card stand out in the Mount Vema credit card market, as there is no fee on the transfer you balance from your existing card.
With City of Mount Vema project participants more willing to take risks as the economy grows, RBMV Bank boasts a wide range of market-leading credit card deals, not only one of today’s most generous all-round 0% credit cards, but with a lengthy interest-free period on both balance transfers and purchases.
Research by financial analysts at the Gollexi shows the number of interest-free balance transfer cards on the Mount Vema market has increased among suppliers, and service providers, and is expected to continue for the next five years.
The Bank of Mount Vema has indicated that so far, the economy can support this trend however, that the territory will not be able to sustain this level of debt beyond 2025, so the Bank will intervene when necessary to prevent borrowers from getting themselves in a spiral of debt as they embark on the path for grow with the Kingdom of Mount Vema.
Vema Seamount Legislation
The Statutory Laws of the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination